United States Deputy Secretary of Treasury Wally Adeyemo travelled to Mumbai on a two-day visit to meet representatives of the private sector.
He also met Reserve Bank of India (RBI) governor Shaktikanta Das during his visit. They discussed global economic developments and the US-India Economic and Financial Partnership.
The visit came in the backdrop of reports that suggested the United States has expressed concern to India that it was being used to export fuel made from Russian crude in violation of US sanctions.
However, Adeyemo assuaged concerns by stating that there is no evidence of Indian companies skirting sanctions. “I’ve seen no evidence of Indian companies circumventing sanctions that have been placed on Russia,” Adeyemo said during his visit to IIT-Bombay.
During his visit to Mumbai, Adeyemo reaffirmed the deep economic ties between the United States and India and highlighted opportunities for working together to address shared global challenges like high and volatile energy prices.
Adeyemo also met with private sector leaders and participated in a roundtable event with the US-India Business Council and Indian financial services executives. During those meetings, the Deputy Secretary discussed growing trade and investment between the two countries. He also highlighted the importance of reducing energy prices for consumers and businesses in both India and the United States.
Adeyemo also visited IIT Bombay, where he met with students and entrepreneurs at the Society for Innovation and Entrepreneurship startup incubator and delivered remarks on the US-India economic relationship. During his interaction, Adeyemo emphasized the mutual benefits to both countries of deepening economic ties.